Weekly
Looking at our trend timeframe we see price has broke out of its descending wedge and our horizontal support. Momentum continuing to head towards the downside no signs if slowing down. Worst case scenario showing we could be seeing a drop towards $1,500, analysis for that coming soon.
Daily
Shifting towards our pattern timeframe we get a better look at price respecting our downtrend structure. Last lower high formed at $6,500, looking for a lower low around $5,500. Stochastic RSI continuing to showing momentum is in favor of the bears.
Conclusion
- Buy: After Daily Confirmation Of Support At $5,000
- Sell: NO
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.